too, are technology companies. they are not banks. is a mobile payments the same thing? appliesegulation depending on what function you served in the payment system. whether you are a credit card network or a phone carrier like verizon or you are a brick-and- mortar bank. all of these different business models are trying to get into this game. they are trying to claim ownership of the emerging retail business in terms of how to get that one merchant to sign on in an exclusive contract. through google wallet or an app. credit card companies are innovating, they are trying to out innovate google. they are working with banks. >> who is pushing for regulation? >> the regulators. they are concerned about three things. that consumers' data, financial data is kept private. they are worried about fraud. what happens when fraudulent activity happens. do consumers have recourse? they are worried about securities. mobile to mobile transfers are a great way to money launder. it could lead to funding of terrorism. the treasury in the financial crimes network is interested in mobile p